학술저널
Asymmetric Shocks Inside Future EMU
Asymmetric Shocks Inside Future EMU
- 세종대학교 경제통합연구소
- Journal of Economic Integration
- 제12권 제2호
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1997.06131 - 140 (10 pages)
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In this paper, we focus on the issue of shocks asymmetries in the future European Monetary Union. Relying on the technique of codependence developed by Gourieroux and Peaucelle [1989, 1993], we propose a new method which, unlike the analysis of Bayoumi and Eichengreen [1992], does not require any arbitrary restrictions. As a whole, our results support the idea of a two-speed Europe. (JEL Classification: C22, F33, F42)
Ⅰ. Introduction
Ⅱ. Empirical Evaluations of the Degree of Asymmetry
Ⅲ. Asymmetric Shocks and Codependence
Ⅳ. Results and Limitations
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